Asia-Pacific Connected Gym Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Cardiovascular Training and Strength Training) and End-Users (Residential, Gym, and Other Commercial Users)
Market Introduction
The APAC Connected Gym Equipment market is further segmented into Australia, India, China, Japan, South Korea, and the Rest of APAC. Digital transformation is a new trend across the region's, due to the high digital transformation pace. This results in an increasing demand for innovative devices, such as connected gym equipment. Further, the growing awareness of advanced technology features is expected to boost the adoption of connected gym equipment’s. The regional governments are investing towards promoting the connected gym equipment market to further boost the public awareness about health and fitness and to encourage better health practices by reducing the issues of chronic diseases which are driving the market growth. Also, the flourishing young population and growing awareness is fueling the connected gym equipment market. Furthermore, the enhanced lifestyle of the people, the upsurge in non-renewable income, especially across the developing countries, offering immense growth potential for the market operating in the connected gym equipment market. Additionally, the increasing cases of chronic heart and arrears disease, due to the sedentary lifestyle of the individual. Thus, to counter this issue, the public and the governments are introducing several health awareness programs and programs to boost the connected gym equipment market.
In case of COVID-19, APAC is highly affected specially India. APAC is a region which comprises of many developing nations. This region is characterized by big industrial presence, great economic opportunities, and high population. All the mentioned factors make APAC a major region for the growth of various markets including connected gym equipment. The temporary shutdown of various manufacturing units and factories in many countries of this region is impacting the supply chains and negatively impacting the production, delivery schedules and sales of various products as well services. Most of the Asian countries are developing countries and hence the presence of connected gym equipment is majorly found in commercial applications like health clubs, gyms, and hotels only. Since these all places are either temporarily closed or operating with various restriction and limitations, a severe impact is observed on the procurement and production of connected gym equipment. Since disposable income in these countries is not that high, majority of population cannot easily afford residential connected gym equipment for exercise and physical activities. Additionally, the region is a global manufacturing hub with countries like Japan, China, India, and South Korea, which all lead the global manufacturing industry growth. Since last year, a negative impact has been observed in growth of the connected gym equipment market.
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Market Overview and Dynamics
The APAC connected gym equipment market is expected to grow from US$ 121.78 million in 2021 to US$ 814.69 million by 2028; it is estimated to grow at a CAGR of 31.2% from 2021 to 2028. Surging health concerns will escalate the market in coming years. Earlier, people did not have to take out dedicated time for exercise. Their daily routine was enough to burn those extra calories. Barring few jobs like product delivery, nursing, surgery, and some farming activities, almost all jobs in today’s time are moving towards sedentary work style. This is happening because automation is taking place in almost every walk of life. These all has given rise to insufficient physical activity among individuals. Insufficient physical activity in daily life is considered as one of the major risk factors for death all over the APAC region. Inadequate physical activity is a crucial risk factor involved with non-communicable diseases (NCDs) like cancer, diabetes, and cardiovascular diseases. It also invites unwanted obesity in many people at very young age. So, to manage the health properly, people are getting aware and conscious about indulging in daily physical activities. Gyming helps in reducing body weight, building bones and muscles, increasing energy levels, and improving skin health. Increase in monetary income allows the consumers to spend on gyming. Along with physical health, gyming also improve people’s mental health to a large extent. It helps in improving sleep quality and memory. It also helps in staying energetic and relaxed. Managing mental health is equally important for performing in today’s work life. So, the growing gyming activities will increase the demand of connect gym equipment, thereby driving the APAC connected gym equipment market.
Key Market Segments
In terms of type, the cardiovascular training segment accounted for the largest share of the APAC connected gym equipment market in 2020. In terms of end-users, the gym segment held a larger market share of the APAC connected gym equipment market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the APAC connected gym equipment market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Cybex International, Inc.; Johnson Health Tech; LES MILLS INTERNATIONAL LTD; Life Fitness; Nautilus, Inc.; and Technogym S.p.A.
Reasons to buy report
- To understand the APAC connected gym equipment market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC connected gym equipment market
- Efficiently plan M&A and partnership deals in APAC connected gym equipment market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC connected gym equipment market
- Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.
APAC Connected Gym Equipment Market Segmentation
APAC Connected Gym Equipment Market - By Type
- Cardiovascular Training
- Strength Training
APAC Connected Gym Equipment Market - By End-Users
- Residential
- Gym
- Other Commercial Users
APAC Connected Gym Equipment Market - By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Connected Gym Equipment Market - Company Profiles
- Cybex International, Inc.
- Johnson Health Tech
- LES MILLS INTERNATIONAL LTD
- Life Fitness
- Nautilus, Inc.
- Technogym S.p.A
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 APAC Connected Gym Equipment Market – By Type
1.3.2 APAC Connected Gym Equipment Market – By End-Users
1.3.3 APAC Connected Gym Equipment Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Connected Gym Equipment Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. APAC Connected Gym Equipment Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Surging Health Concerns
5.1.2 Escalating Technological Advancement in Connected Gym Equipment
5.2 Key Market Restraints:
5.2.1 Expensive Connected Gym Equipment
5.3 Key Market Opportunities:
5.3.1 Mounting Demand for Residential Connected Gym Equipment
5.4 Key Market Trends:
5.4.1 Upgradation in Smart Fitness Technology
5.5 Impact Analysis of Drivers and Restraints
6. Connected Gym Equipment Market – APAC Analysis
6.1 APAC Connected Gym Equipment Market Overview
6.2 APAC Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
7. APAC Connected Gym Equipment Market Analysis – By Type
7.1 Overview
7.2 APAC Connected Gym Equipment Market Breakdown, By Type (2020 and 2028)
7.3 Cardiovascular Training
7.3.1 Overview
7.3.2 Cardiovascular Training: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Strength Training
7.4.1 Overview
7.4.2 Strength Training: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
8. APAC Connected Gym Equipment Market Analysis – By End-Users
8.1 Overview
8.2 APAC Connected Gym Equipment Market, By End-Users (2020 and 2028)
8.3 Residential
8.3.1 Overview
8.3.2 Residential: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
8.4 Gym
8.4.1 Overview
8.4.2 Gym: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
8.5 Other Commercial Users
8.5.1 Overview
8.5.2 Other Commercial Users: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
9. APAC Connected Gym Equipment Market – Country Analysis
9.1 Overview
9.1.1 APAC: Connected Gym Equipment Market, by Key Country
9.1.1.1 Australia: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Australia: Connected Gym Equipment Market, by Type
9.1.1.1.2 Australia: Connected Gym Equipment Market, by End-Users
9.1.1.2 China: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 China: Connected Gym Equipment Market, by Type
9.1.1.2.2 China: Connected Gym Equipment Market, by End-Users
9.1.1.3 India: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 India: Connected Gym Equipment Market, by Type
9.1.1.3.2 India: Connected Gym Equipment Market, by End-Users
9.1.1.4 Japan: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Japan: Connected Gym Equipment Market, by Type
9.1.1.4.2 Japan: Connected Gym Equipment Market, by End-Users
9.1.1.5 South Korea: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 South Korea: Connected Gym Equipment Market, by Type
9.1.1.5.2 South Korea: Connected Gym Equipment Market, by End-Users
9.1.1.6 Rest of APAC: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of APAC: Connected Gym Equipment Market, by Type
9.1.1.6.2 Rest of APAC: Connected Gym Equipment Market, by End-Users
10. APAC Connected Gym Equipment Market- COVID-19 Impact Analysis
10.1 APAC
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 Life Fitness
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 LES MILLS INTERNATIONAL LTD
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Technogym S.p.A
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Cybex International, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Johnson Health Tech
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Nautilus, Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. APAC Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC Connected Gym Equipment Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Connected Gym Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Connected Gym Equipment Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 5. China: Connected Gym Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. China: Connected Gym Equipment Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 7. India: Connected Gym Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. India: Connected Gym Equipment Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 9. Japan: Connected Gym Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Japan: Connected Gym Equipment Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 11. South Korea: Connected Gym Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. South Korea: Connected Gym Equipment Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of APAC: Connected Gym Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of APAC: Connected Gym Equipment Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Connected Gym Equipment Market Segmentation
Figure 2. APAC Connected Gym Equipment Market Segmentation – By Country
Figure 3. APAC Connected Gym Equipment Market Overview
Figure 4. Cardiovascular Training Segment held the Largest Share of APAC Connected Gym Equipment Market
Figure 5. Gym segment held the Largest Share of APAC Connected Gym Equipment Market
Figure 6. China to Show Great Traction During Forecast Period
Figure 7. APAC- PEST Analysis
Figure 8. APAC Connected Gym Equipment Market Ecosystem
Figure 9. Expert Opinions
Figure 10. APAC Connected Gym Equipment Market Impact Analysis of Drivers and Restraints
Figure 11. APAC Connected Gym Equipment Market - Revenue and Forecast to 2028 (US$ Million)
Figure 12. APAC Connected Gym Equipment Market Breakdown, By Type (2020 and 2028)
Figure 13. APAC Cardiovascular Training: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Strength Training: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 15. APAC Connected Gym Equipment Market Breakdown, By End-Users (2020 and 2028)
Figure 16. APAC Residential: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Gym: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 18. APAC Other Commercial Users: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 19. APAC: Connected Gym Equipment Market, by Key Country – Revenue (2020) (USD Million)
Figure 20. APAC: Connected Gym Equipment Market Revenue Share, by Key Country (2020 and 2028)
Figure 21. Australia: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. China: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. India: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Japan: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. South Korea: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Rest of APAC: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic in APAC Country Markets
- Cybex International, Inc.
- Johnson Health Tech
- LES MILLS INTERNATIONAL LTD
- Life Fitness
- Nautilus, Inc.
- Technogym S.p.A
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC connected gym equipment market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in APAC connected gym equipment market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the connected gym equipment market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution